Cloud security startup Catalyze lands $6.5 million for PHI platform
Catalyze has raised $6.5 million in a Series B funding. The cloud-based security company will use the capital to accelerate growth of its core healthcare integration and hosting products and services.
Catalyze provides a HIPAA compliant, HITRUST CSF Certified platform with modules to handle, store and transmit protected health information securely in the cloud.
The Catalyze technology is two-pronged: There is the compliance layer, called Stratum and Redpoint, which company executives called “an integration Sherpa.”
Using data-driven insights, Catalyze is working to solve healthcare problems as the industry gets closer to value-based care.
“Customers have offered our team the unique opportunity to solve a multitude of data exchange challenges that fall outside of traditional standards,” Catalyze CEO Travis Good, MD, said in a statement.
This latest investment round takes total Catalyze funding to more than $12.5 million. St. Louis-based Lewis & Clark Ventures led this round of funding, with participation of existing investors, Arthur Ventures, Baird Venture Partners and Chicago Ventures.
“The need to empower and enable this healthcare transformation by bringing new and innovative technologies to the industry is something our firm values,” Brian Hopcraft, managing director of Lewis & Clark Ventures, said in a statement. Hopcraft will join the Catalyze Board of Directors.